AUD testing 0.7200 after the data releases (RBA still to come)

The Australian dollar has been on the soft side for much of the mornig here, and testing new lows after the data:

Main focus was:

• Australia Retail sales for December: -0.4% m/m (vs. expected 0.0%)

That's very ugly.

Also:

• Australia trade balance for December AUD + 3681m (vs. expected AUD +2225m)

A nice beat for the surplus but the details are not good at all. Imports down 6% m/m